Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Cuts Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group lessened its stake in Illinois Tool Works Inc. (NYSE:ITW) by 9.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 4,238 shares of the industrial products company’s stock after selling 430 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Illinois Tool Works were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Illinois Tool Works during the 4th quarter worth approximately $806,291,000. GAMMA Investing LLC increased its stake in shares of Illinois Tool Works by 26,372.8% during the 1st quarter. GAMMA Investing LLC now owns 2,065,675 shares of the industrial products company’s stock worth $5,123,080,000 after purchasing an additional 2,057,872 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Illinois Tool Works by 263.9% during the 4th quarter. Cerity Partners LLC now owns 903,710 shares of the industrial products company’s stock worth $229,269,000 after purchasing an additional 655,341 shares in the last quarter. Northern Trust Corp increased its stake in shares of Illinois Tool Works by 3.9% during the 4th quarter. Northern Trust Corp now owns 13,667,653 shares of the industrial products company’s stock worth $3,465,570,000 after purchasing an additional 508,188 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in Illinois Tool Works by 1,899.3% during the fourth quarter. Federated Hermes Inc. now owns 224,921 shares of the industrial products company’s stock worth $57,031,000 after acquiring an additional 213,671 shares during the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insider Activity

In other news, Director David Byron Smith, Jr. purchased 872 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were acquired at an average price of $241.16 per share, for a total transaction of $210,291.52. Following the completion of the acquisition, the director directly owned 122,884 shares of the company’s stock, valued at $29,634,705.44. The trade was a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by corporate insiders.

Illinois Tool Works Price Performance

Shares of NYSE:ITW traded up $0.23 during trading on Friday, reaching $257.93. The company had a trading volume of 74,127 shares, compared to its average volume of 991,732. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.16 and a current ratio of 1.60. The firm’s fifty day moving average is $248.77 and its 200 day moving average is $249.55. Illinois Tool Works Inc. has a twelve month low of $214.66 and a twelve month high of $279.13. The firm has a market capitalization of $75.57 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 5.43 and a beta of 1.09.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, April 30th. The industrial products company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.04. Illinois Tool Works had a net margin of 21.37% and a return on equity of 92.77%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the firm earned $2.44 EPS. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, equities analysts forecast that Illinois Tool Works Inc. will post 10.39 EPS for the current year.

Illinois Tool Works Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were issued a dividend of $1.50 per share. The ex-dividend date was Monday, June 30th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.33%. Illinois Tool Works’s dividend payout ratio is currently 52.77%.

Wall Street Analyst Weigh In

ITW has been the topic of a number of research analyst reports. UBS Group decreased their price target on shares of Illinois Tool Works from $269.00 to $234.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Stifel Nicolaus lifted their price target on shares of Illinois Tool Works from $227.00 to $233.00 and gave the company a “hold” rating in a report on Thursday, May 1st. Bank of America lowered shares of Illinois Tool Works from a “neutral” rating to an “underperform” rating and set a $220.00 target price on the stock. in a report on Wednesday, May 7th. Wells Fargo & Company lifted their target price on shares of Illinois Tool Works from $230.00 to $235.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Finally, Evercore ISI dropped their price target on shares of Illinois Tool Works from $252.00 to $249.00 and set an “underperform” rating on the stock in a research note on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $253.83.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.